Alcoa announce that its separation into two independent, publicly-traded companies — an Upstream company and a Value-Added company — remains on track for completion in the second half of 2016. Alcoa has now revealed the name of its Value-Added company, Arconic. The Upstream company will continue to operate under the Alcoa name.
According to Alcoa, the “Arconic” brand represents the future Value-Add company’s iconic heritage and continued commitment to industry-shaping innovation: the “A” echoes Arconic’s proud Alcoa heritage; “Arc” represents the arc of progress and the continued pursuit of advancement for customers, employees, and communities; and “-conic” speaks to the company’s history of creating iconic products and its constant focus on the next breakthrough innovation.
“The ‘Arconic’ brand fuses our extraordinary heritage with our highly promising future,” said Klaus Kleinfeld, Alcoa Chairman and Chief Executive Officer. “It echoes our 127-year history of invention – and reinvention. Our logo depicts the realm of possibility brought to life. It reflects our vision of limitless innovation solving complex engineering challenges, to transform the way we fly, drive, build, package and power. And it represents the ingenuity of our people, who are dedicated to inventing, developing, and delivering high-quality, innovative products and solutions that contribute to our customers’ success and create shareholder value.”
The company also revealed a redesign of the Alcoa logo for the Upstream company. “The new Alcoa mark represents a transformed and agile Upstream company: resilient against market down-swings and poised to capitalize on upswings,” said Kleinfeld. “And so, with today’s announcements, we move closer to launching two leading-edge companies, each ready to define and seize the future.”
Both Alcoa and Arconic will be headquartered in the U.S. The Upstream Company will comprise the five business units that today make up Global Primary Products: Bauxite, Alumina, Aluminum, Cast Products, and Energy. Arconic will include the three business segments that today comprise Alcoa’s Value-Added portfolio: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions.